Signify (formerly Philips Lighting), the global leader in the lighting industry, has announced a strategic partnership with Gila Al Tawakol Electric, a manufacturer and distributor of high-quality electrical products, Invest-Gate reports.

The partnership aims to establish a regional manufacturing center in Egypt called “Signify Gila Lighting Technology” that will provide cutting-edge LED lighting solutions and products.

Prime Minister Mostafa Madbouly held a meeting with representatives from Signify and Gila to review the proposed project. The meeting was attended by Ahmed Samir, Minister of Trade and Industry; Hossam Heiba, CEO of the General Authority for Investment and Free Zones; Mohamed Saad, CEO of Signify Africa; Mokhles Tawakol, CEO of Gila Al Tawakol Electric; and Sherif Abdel Fattah, Chairman of Gila Al Tawakol Electric.

During the meeting, it was agreed to establish the company “Signify Gila Lighting Technology” as a regional manufacturing center in Egypt with direct foreign investments. The center will export its products to countries in Africa, Europe, and the Middle East, aiming to support the localization of various industries in line with the state’s export objectives.

The representatives of the company expressed gratitude to the Prime Minister for providing the opportunity to present four new projects proposed by the Signify Philips and Gila alliance, with a total investment of $100 mn. These efforts align with the state’s directives to attract both local and foreign investments to Egypt, with a particular focus on the industrial sector.

The new factory is part of Signify’s ambitious plan to expand and diversify its presence in Egypt and regional markets by leveraging the strong manufacturing capabilities in the region. The company also aims to utilize Egypt’s strategic location to facilitate access to important markets. Signify will retain a 60% stake in the newly established entity, Signify Gila Lighting Technology, and will be responsible for the operational business.